RakeTech raises €70 million to fund acquisitions

Award winning affiliate company secures substantial funding and re-organises management structure to drive further growth

Leading affiliate company, RakeTech Group, has secured €70 million in funding to help drive acquisitions and strengthen its position as one of the fastest growing gaming affiliate companies in the world. The funding consists of a €40 million committed loan facility, plus a €30 million uncommitted loan facility from a major investment fund.

The investment will be used to acquire small to medium sized online casino- and sports-betting affiliates that complement the company’s structure, primarily within the European market. The funding will contribute to continuing the company’s remarkable growth, which over the past 24 months has involved the acquisition of 12 online affiliate companies.

RakeTech is also making changes to its management structure. Michael Holmberg, who is currently CEO for holding company Gameday Group, has been appointed as CEO of RakeTech Group. Holmberg will focus on the day-to-day management of the organization and will be responsible for delivering on a robust business strategy.

Current CEO and Founder of RakeTech, Johan Svensson, will assume a new role with a focus on securing acquisitions required for continued growth in the capacity as Founder and Director.

Johan Svensson, Founder and Director of RakeTech Group, said: “I’m really excited about this new chapter in our history. This investment means we are well armed to further accelerate our acquisition and growth strategy. Appointing Michael Holmberg as CEO, and the person responsible for driving the company forward was a natural decision. Michael has a proven track record of building successful organizations within the online gaming industry and his leadership will help guide RakeTech to the next level.”

 

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